Beijing Central Business District, mix of offices and apartments
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Asia-Pacific markets were in the green on Monday as investors parsed the latest slew of economic data out of China.
China’s GDP rose 4.8% in the July-to-September period compared to a year ago, in line with expectations of analysts polled by Reuters.
The Asian giant also kept its benchmark lending rates unchanged, in line with expectations, with the one-year loan prime rate at 3%. Hong Kong’s Hang Seng Index was up over 2.52%, while the mainland’s CSI 300 rose 0.53% to 4,538.22.
Japan’s Nikkei 225 jumped 3.37% to close at a fresh record high of 49,185.5, while the Topix added 2.46% to end the trading day at 3,248.45 after the country’s Liberal Democratic Party and the Japan Restoration Party effectively reached an agreement to form a coalition government, NHK reported citing sources.
South Korea’s Kospi added 1.76% to close at 3,814.69 after hitting a record high for the third straight day last Friday, while the small-cap Kosdaq climbed 1.89% to end the trading day at 875.77.
Australia’s S&P/ASX 200 rose 0.41% to close at 9,031.9.
Last Friday in the U.S., the three major averages closed higher.
The Dow Jones Industrial Average rose Friday as traders digested the U.S.′ softening tone on its trade talks with China and tried to move past credit concerns that sparked a big sell-off in regional banks Thursday stateside.
The Dow finished 238.37 points, or 0.52%, higher at 46,190.61. The S&P 500 settled up 0.53% at 6,664.01, while the Nasdaq Composite added 0.52% to finish at 22,679.98.
— CNBC’s Liz Napolitano and Pia Singh contributed to this report.
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